Pictet Asset Management SA grew its holdings in DocuSign, Inc. (NASDAQ:DOCU – Get Rating) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,220 shares of the company’s stock after buying an additional 1,746 shares during the quarter. Pictet Asset Management SA’s holdings in DocuSign were worth $3,541,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in DOCU. Capital World Investors increased its position in shares of DocuSign by 128.3% in the first quarter. Capital World Investors now owns 5,683,838 shares of the company’s stock valued at $608,853,000 after buying an additional 3,193,727 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DocuSign by 20.3% in the first quarter. Vanguard Group Inc. now owns 17,308,877 shares of the company’s stock valued at $1,854,127,000 after buying an additional 2,917,683 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of DocuSign by 123.3% in the second quarter. Renaissance Technologies LLC now owns 2,329,300 shares of the company’s stock valued at $133,655,000 after buying an additional 1,286,400 shares in the last quarter. Wellington Management Group LLP increased its position in shares of DocuSign by 157.8% in the first quarter. Wellington Management Group LLP now owns 1,417,461 shares of the company’s stock valued at $151,839,000 after buying an additional 867,717 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of DocuSign by 18,826.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 522,548 shares of the company’s stock valued at $29,984,000 after buying an additional 519,787 shares in the last quarter. 76.18% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Daniel D. Springer sold 147,009 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total value of $8,597,086.32. Following the transaction, the director now owns 1,524,335 shares of the company’s stock, valued at approximately $89,143,110.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel D. Springer sold 147,008 shares of the stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $55.08, for a total transaction of $8,097,200.64. Following the transaction, the director now owns 1,225,714 shares of the company’s stock, valued at approximately $67,512,327.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel D. Springer sold 147,009 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $58.48, for a total value of $8,597,086.32. Following the transaction, the director now directly owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The disclosure for this sale can be found here. Corporate insiders own 2.55% of the company’s stock.
DocuSign Stock Performance
DocuSign (NASDAQ:DOCU – Get Rating) last announced its quarterly earnings results on Thursday, December 8th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.13. DocuSign had a negative return on equity of 18.86% and a negative net margin of 5.45%. The business had revenue of $645.46 million for the quarter, compared to analyst estimates of $626.07 million. On average, research analysts anticipate that DocuSign, Inc. will post -0.1 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Wolfe Research upgraded DocuSign from an “underperform” rating to a “peer perform” rating in a research report on Thursday. UBS Group cut DocuSign from a “neutral” rating to a “sell” rating and set a $52.00 price target for the company. in a research report on Tuesday, February 21st. Robert W. Baird dropped their price target on DocuSign from $70.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, December 5th. Piper Sandler boosted their price target on DocuSign from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, January 5th. Finally, Jefferies Financial Group upgraded DocuSign from a “hold” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $70.00 in a research report on Thursday, January 5th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, DocuSign has a consensus rating of “Hold” and a consensus price target of $59.71.
DocuSign Profile
DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.
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